Krsnaa Diagnostics (KRSNAA) Q1 2026 earnings summary

Executive summary

• Achieved Q1 FY 2026 consolidated revenue of INR 1,930 million, up 13% year-on-year, with EBITDA of INR 524 million (27% margin) and PAT of INR 205 million (11% margin).

• Served 5 million patients and processed 16 million tests, with retail touchpoints surging from 362 to 2,414 year-on-year.

• Retail revenue now contributes 6% of total revenue, with B2C share rising and retail expansion in Maharashtra, Punjab, Assam, and Odisha.

• Board approved unaudited financial results for Q1 FY26 and recommended a final dividend of INR 2.75 per share for FY 2024-25.

• Won the Rajasthan PPP contract, targeting 42 mother labs, 135 satellite labs, and 1,300+ collection centers, with full operations by FY 2026 and material revenues from FY 2027.

Financial highlights

• Consolidated revenue from operations for Q1 FY26 was INR 1,929.78 million, up from INR 1,702.32 million year-over-year.

• EBITDA grew 19% year-on-year to INR 524 million, with a 120 bps margin expansion to 27%.

• PAT increased 15% year-on-year to INR 205 million, with an 11% margin.

• EPS for Q1 FY 2026 was INR 6.35 (consolidated), up 14% year-on-year.

• Receivables at 120 days, with overdue payments from Himachal Pradesh and Karnataka starting to flow in.

Outlook and guidance

• Retail revenue contribution expected to reach 5%-8% by FY 2026, with a target of 18%-20% over the next two years.

• Rajasthan project to ramp up over 6-9 months, with full revenue potential in 1.5-2 years.

• Retail network targeted to reach 700 exclusive centers and 3,500 B2B partners by FY27E.

• Management expects no material impact from ongoing tax assessment proceedings.

• Retail business expected to break even by end of FY 2026.